Global Isosorbide Market share research by applications and regions for 2016-2023
Resins & polymers were the largest end-use segment and accounted for more than 60% of the total isosorbide market share in 2014 and are expected to witness steady gains over the forecast period. It is preferred in these applications due to its excellent optical, thermal and mechanical properties.
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Bioplastics market growth coupled with technical development and regulatory support is likely to push manufacturers to increase isosorbide production capacity. It is copolymerized with polyethylene terephthalate (PET) & ethylene glycol to enhance polymer strength and form PEIT. It serves for thermoplastics market where high temperature performance is required which includes rigid containers and bottles for hot-fill applications, thus supporting industry growth.
This region is also likely to be the fastest growing with an estimated CAGR of over 24% up to 2023 owing to growth in bio-plastics industry in China coupled with low raw material and labor costs, resulting in stable isosorbide market price trend.
It is obtained from sorbitol which is produced from sucrose (sugar cane or sugar beet) or glucose (starch) and is widely used in food applications. The sorbitol market has emerged as a key platform for commodity chemicals such as ethylene glycol, propylene glycol, lactic acid, glycerol and 1,4-sorbiton. This factor is likely to be responsible for competitive isosorbide market price as it can be obtained in large amounts.
Its use is not restricted to offer advantages as building block in PEIT application, but also it can be used as a comonomer for PU, polycarbonates, polyethers and polyesters. Derivates such as diesters and dimethyl are used as plasticizers in PVC and solvents & fluxing agents respectively.
Roquette and Mitsubishi Chemical Company are focusing on polymer production using this route. In 2011, Roquette has announced to increase its existing production capacity located in France. It markets under the brand name POLYSORB which is claimed to be cost effective and can bring enhanced thermal and optical properties to polymers such as polycarbonates.
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Global isosorbide market share is consolidated and represents a niche segment. Companies such as SK Chemicals, Novaphene and ADM are anticipated to commercialize their products in the forecast period. Presence of highly unorganized industry in China poses threat to these current manufacturers.
Asia Pacific witnessed the highest consumption owing to growing bio plastics manufacturing capacity in China. Manufacturing is likely to shift to India, China, Indonesia and Thailand owing to government financial incentives and low cost. Europe is also likely to witness an increase in demand owing to favorable growth in bio plastics market owing to government regulations. North America is also likely to witness moderate growth rates over the forecast period.
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